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Kansas collects $7M from $1.85B in sports bets in first year of legalized gambling

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1 year ago

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Kansas collects M from .85B in sports bets in first year of legalized gambling


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1 hr 5 mins ago
written by Kansas Reflector
Gov. Laura Kelly, who signed a bill in May legalizing sports betting in Kansas, placed the state’s first bet in September on the Kansas City Chiefs. (Kansas Reflector/Submitted)

Gov. Laura Kelly, who signed a bill in May legalizing sports betting in Kansas, placed the state’s first bet in September on the Kansas City Chiefs. (Kansas Reflector/Submitted)

TOPEKA — The state’s first year of sports betting brought in $7 million in state revenue from $1.85 billion in wagers.

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In a Thursday update to committee lawmakers, Kansas Lottery finance director Matt Schwartz said revenue projections were basically on track with expectations.

“Sports wagering revenues, we’re now a little more than 12 months in,” Schwartz said. “The state’s share of revenues for the first fiscal year, which was 10 months of operation, was a little more than $5.8 million.”

The fiscal year ended June 30. From the September 2022 introduction of sports betting through the end of August this year, the state has collected about $7 million in sports betting taxes, and sports bettors have staked about $1.85 billion.

Schwartz said the organization wasn’t expecting a “big change” in revenue for the upcoming year, estimating the state’s share of revenue would likely be around $10 million in fiscal year 2024.

August numbers reported $94.4 million in settled wagers for the month, generating $484,366 in state sporting bet taxes. 

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The state’s gaming law, which followed years of legislative debate over the merits of sports betting, cleared the way for Kansas’ four state-owned casinos to participate in in-person sportsbooks and mobile sports betting. 

The state’s share of sports gambling revenue was set at 10%, but the law is written to allow sports betting companies who partner with the casinos to deduct promotional subsidies from taxable revenue, leading to higher company profits and lower state returns.

The majority of the state’s sports betting revenue is placed in a fund dedicated to attracting professional sports franchises to Kansas — however unlikely the fund’s success may be.

Another provision of the law allows casinos to partner with businesses, such as restaurants, and nonprofit organizations. Rep. Troy Waymaster, a Bunker Hill Republican, said the provision needed to be utilized more.

 “That was one of the biggest provisions of sports betting, with the anticipation that it would broaden sports betting across the state of Kansas,” Waymaster said.

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“There’s only four entities in the entire state, out of 105 counties, that have signed up,” Waymaster added. “That’s not a very good response rate, in my opinion.”

Overall, net casino gaming revenues were $407.1 million in fiscal year 2023, marking a $6.1 million increase from the previous year. Out of the revenue, the Kansas Lottery transferred $97.7 million into the Expanded Lottery Act Revenues Fund and the Problem Gambling and Addictions Grant Fund.



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Kansas

Kansas State lands Charlotte WR Arrion Concepcion

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4 hours ago

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November 24, 2024

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Kansas State lands Charlotte WR Arrion Concepcion


Kansas State has struck twice after a busy weekend on the recruiting trail. After adding junior college defensive tackle Patrick Tackie just an hour and a half before, high school wideout Arrion Concepcion has also committed to K-State.

Like Tackie and a few others before him, the recruitment of the wide receiver was a major sprint. The senior wide receiver de-committed from NC State November 17. Kansas State offered him November 18 and worked quickly to schedule an official visit.

The Charlotte natives official visit was this weekend. He was joined by Tackie and two other high school receivers Quinten Gibson and Larry Porter. Could another commitment be on the way? It is possible as we rapidly approach the Early Signing Period. A major tip of the hat goes to K-State wide receivers coach Matthew Middleton and the Wildcats recruiting staff for making Concepcion feel at home in a short period of time to commit to Kansas State.

In total, the senior held offers from Charlotte, Coastal Carolina, East Carolina, Georgia Southern, Indiana, Liberty, Louisville, Marshall, Memphis, Miami, NC State, Temple, Troy and Virginia Tech. Over the summer he took official visits to NC State and Virginia Tech.

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If the last name sounds familiar, his older brother KC Concepcion is a wide receiver at NC State and played against K-State in the Pop-Tarts Bowl. Last season the older Concepcion was voted ACC Rookie of the Year after totaling 839 yards and 10 touchdowns. This season he has 59 catches for 479 yards and five touchdowns for the Wolfpack.

In total Arrion Concepcion is commitment No. 22 for Kansas State in the 2025 recruiting class. He joins illon Duff, Weston Polk, Will Kemna, Martel Jackson, Adonis Moise, Dalton Knapp, Sawyer Schilke, JoJo Scott, Maguire Richman, Dominic Mitchell, Brock Heath, Linkon Cure,  RJ Collins, Monterrio Elston, Ashton Moore, Noah King, Logan Bartley, Brad Stanyer and Darien Whitaker and Tackie.



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Week 12 Inactives vs. Kansas City

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12 hours ago

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November 24, 2024

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Week 12 Inactives vs. Kansas City


CHARLOTTE — The Panthers are getting one receiver back and losing another for Sunday’s game against the Chiefs.

Rookie wideout Jalen Coker, who has started in recent weeks, is inactive this week after a quadriceps injury suffered in practice Thursday.

The Panthers are getting veteran Adam Thielen back on the field this week. He’s been out since a hamstring injury in Week 3 on a long touchdown pass from Andy Dalton.

Johnson suffered a concussion in Germany and practiced this week.

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The Panthers brought wide receiver Dan Chisena and outside linebacker Kenny Dyson up from the practice squad for depth purposes.

Click here to view the full injury report | Depth Chart | Roster

PANTHERS INACTIVES

  • WR Jalen Coker
  • S Jammie Robinson
  • CB Shemar Bartholomew
  • OLB Thomas Incoom
  • OLB DJ Johnson
  • OL Jarrett Kingston
  • DT Jaden Crumedy
  • RB Clyde Edwards-Helaire
  • OL C.J. Hanson
  • OT Ethan Driskell
  • DT Marlon Tuipulotu
  • DE Cameron Thomas



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Kansas State Wildcats vs. Liberty Flames live stream, TV channel, start time, odds | November 24, 2024

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21 hours ago

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November 24, 2024

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Kansas State Wildcats vs. Liberty Flames live stream, TV channel, start time, odds | November 24, 2024


The Liberty Flames (5-1) face the Kansas State Wildcats (4-1) on Sunday, November 24, 2024 at Virgin Islands Sport & Fitness Center. It begins at 8:00 PM ET on ESPN+.

Kansas State won at home over George Washington 83-71 last time out, and was led by David N’Guessan (17 PTS, 9 REB, 62.5 FG%) and Dug McDaniel (13 PTS, 5 AST, 2 STL, 45.45 FG%).

Liberty beat Louisiana 89-69 at home in its last game. Its top scorers were Kaden Metheny (20 PTS, 70 FG%, 4-6 from 3PT) and Taelon Peter (12 PTS, 62.5 FG%).

Prepare for this matchup with everything you need to know ahead of Sunday’s college hoops action.

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Check out: USA TODAY Sports Coaches Poll

Watch college basketball on ESPN+!

Kansas State Wildcats vs. Liberty Flames

  • Game day: Sunday, November 24, 2024
  • Game time: 8:00 PM ET
  • TV: ESPN+
  • Live stream: ESPN+ – Watch NOW

NCAA Basketball Odds and Betting Lines

  • Spread: Kansas State -2.5
  • Total: 134.5

College basketball odds courtesy of BetMGM Sportsbook. Odds updated Sunday at 3:00 AM ET. For a full list of sports betting odds, access USA TODAY Sports Betting Scores Odds Hub.

Watch college basketball on ESPN+!

Follow the latest college sports coverage at College Sports Wire.

Gannett may earn revenue from sports betting operators for audience referrals to betting services. Sports betting operators have no influence over nor are any such revenues in any way dependent on or linked to the newsrooms or news coverage. Terms apply, see operator site for Terms and Conditions. If you or someone you know has a gambling problem, help is available. Call the National Council on Problem Gambling 24/7 at 1-800-GAMBLER (NJ, OH), 1-800-522-4700 (CO), 1-800-BETS-OFF (IA), 1-800-9-WITH-IT (IN). Must be 21 or older to gamble. Sports betting and gambling are not legal in all locations. Be sure to comply with laws applicable where you reside.

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